Sydney CBD property hits market for $25 million
A heritage building in Sydney’s CBD has been listed for sale with a price expectation of approximately $25 million.
The building is located on a 350 square metre site on Liverpool Street and sits between Cockle Bay Wharf and Anzac Square in the Darling Harbour precinct of the city.
GALLERY
The building is six storeys and is currently split into two retail spaces with an additional four levels of office spaces. It has undergone a full scale renovation since last selling for $6.3 million nearly 10 years ago in 2010.
The ground floor tenancy was designed and refurbished for restaurant, BBQ King when they took the space in 2016. This restaurant has been a dining institution for three decades, opening in Chinatown in 1983 originally.
Agents Jordan Lee and Andy Hu from Savills Australia are marketing the property. Lee says the location “is strategically positioned to benefit from the master planned Barangaroo and Darling Harbour Live projects.” The sector where the building sits has a mix of retail, offices, residential, entertainment, educational facilities and hotels.
Public transport is readily available and accessible at neighbouring locations such as Town Hall and Museum Stations as well as many bus stops and the newly opened Sydney Light Rail.
Hu notes that interest from a range of buyers is expected, “both locally and offshore, looking for a safe haven investment, and a successful and popular tenancy such as BBQ King is just the icing on the cake for a property such as this.”
The building holds a stage one approval that will allow the site to yield a hotel and residential tower or office tower with an end value of more than $300 million.
For more information visit The Urban Developer and Savills Australia
Images via The Urban Developer
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